‘150 million U.S. dollars is merely ante, the starting price. Currently, the Prime Minister and the government support the idea to keep the price on this level so far. And we’ll be able then to make a certain step so that the investors feel the importance of this process,’ Head of Ukraine’s State Property Fund Ihor Bilous said.
‘We’ve got enough investors, and more of them will come as soon as they see such price. By the time the auction begins, it will be the market price’, he added.
In May 2016, the Cabinet of Ministers approved the sale of 99.6 percent of the plant’s shares.
In deciding to initiate the privatization of the plant, the Cabinet of Ministers announced that it had eliminated a number of criteria for potential buyers that would have reduced the number of potential investors. Prime Minister Volodymyr Groysman said that the government was attempting to maximize the number of bidders for the plant.
'Our task is to have the largest possible amount of participants,' said Groysman in the statement. 'We will begin this process of privatization, and must demonstrate to Ukrainians and to the entire world, what open, public, and effective privatization really is.'
Odesa Portside Plant was launched in 1978. The main purpose of the enterprise is production of ammonia, urea and other chemical by-products. The plant also provides shipments of products from other Ukrainian and many Russian enterprises, such as ammonia, urea and methanol.